This new clinical trial is being conducted through their partnership with Lanzhou Biotechnique Development Co., LTD (LanDev) and their parent company China National Biotec Group Co., LTD (CNBG) and will be used to seek marketing approval in China
BROOKLINE, Mass., June 24, 2021 /PRNewswire/Knowledge Bylanes -- Advanced Aesthetic Technologies, Inc. (AAT), a leader in aesthetic gel implant technology, is proud to announce the initiation of a clinical trial for their Algeness® VL (2.5% Agarose Gel) Filler in China in partnership with Lanzhou Biotechnique Development Co., LTD (LanDev) and their parent company China National Biotec Group Co., LTD (CNBG) This study aims to evaluate the effectiveness and safety of Algeness® VL (2.5% agarose gel) in the treatment of moderate to severe nasolabial folds with commercially available hyaluronic acid fillers for injection as a control. The study will provide further clinical evidence for the product to apply for NMPA marketing authorization in Mainland China.
According to Doug Abel, CEO of AAT, "China's aesthetics market is growing faster than the global market. The size of the Chinese population and relatively low market penetration of aesthetics and filler treatments in China present enormous potential for future growth. Our novel Algeness® range of dermal fillers is the first 100% natural, biocompatible and fully biodegradable filler on the market to date, which differentiates it from other injectable products. We are very pleased to commence the pursuit of registration in China through our strategic partner, Lanzhou Biotechnique Development Co., LTD (LanDev) and their parent company China National Biotec Group Co., LTD (CNBG)."
From 2015 to 2019, the global aesthetic medicine market grew steadily, with a compound annual growth rate (CAGR) of around 8.2%. China market grew from RMB 64.8 billion in 2015 to RMB 176.9 billion in 2019 – an impressive 28.7% CAGR. The domestic market is poised to grow at a 15.2% CAGR between 2020 and 2023 (versus 7% globally), following a period of adjustment.1
Wu Qiang, General Manager of Lanzhou Biotechnique Development Co. Ltd commented, "We are proud to work with the AAT team to bring this revolutionary injectable product to the Chinese market. We believe the distinct advantages and high safety profile of the Algeness® gel filler will resonate with aesthetic physicians and introduces a new category of biodegradable products to our growing portfolio."
Algeness® is a patented family of fully resorbable injectable gel implant dermal fillers that are 100% natural, providing advantages in terms of safety, skin rejuvenation, and natural looking results both at rest and during facial movement. Typical clinical advantages include minimal swelling upon injection and immediately visible results. Algeness® holds a CE Mark and is currently distributed in over 30 countries worldwide.
